An auction was held on 26.6.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £5.000.000 4,60% Government Registered Development Stock with date of issue 23.4.2003 and maturity in fifteen years.
The total value of the bids submitted was £705.000; competitive bids amounted to £700.000 while non-competitive bids to £5.000. All bids were accepted.
The lowest and highest prices of the competitive bids accepted were £99,50 and £100,00 respectively for every £100 nominal value, representing annual yields of 4,65% and 4,60% respectively. In accordance with the published terms of the auction non-competitive bids amounting to £5.000 were accepted at the weighted average yield/price of the accepted competitive bids. This price was £99,81 per £100 nominal value representing an annual yield of 4,62%.